Results 11,521-11,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Codes of Conduct (15 May 2014)

Michael Noonan: I am advised by the Central Bank that in relation to the provision of credit, the Central Bank's Consumer Protection Code 2012 (2012 Code) sets out rules on early repayment.  Where a regulated entity offers credit on a fixed interest rate to a personal consumer, or offers a personal consumer the option to fix their rate or to switch to a fixed rate on an existing credit...

Written Answers — Department of Finance: Pension Provisions (15 May 2014)

Michael Noonan: Approved Minimum Retirement Funds (AMRFs) form part of the flexible options at retirement that are available in respect of all benefits from Defined Contribution (DC) occupational pension schemes and other DC pension savings arrangements. Choices available to individuals (after taking the retirement lump sum) include the option to purchase an annuity with the remaining funds, to receive the...

Written Answers — Department of Finance: Tax Credits (15 May 2014)

Michael Noonan: I have previously replied to the Deputy in detail in relation to the Single Person Child Carer Credit on 13 February 2014 in my response to Questions 7453, 7454 and 7455. I am advised by the Revenue Commissioners that for 2013, it is currently estimated that 76,800 individuals were in receipt of the One-Parent Family Tax Credit (i.e., in a position to utilise some or all of the tax credit to...

Written Answers — Department of Finance: Tax Reliefs Cost (15 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the annual tax expenditure associated with research and development tax credits in each year from 2010 to 2012, the latest year available, is as set out in the following table. Year R&D Credit Cost €m 2010 224 2011 261 2012 282Data for the tax year 2013 are not yet available as the bulk of tax returns for 2013 are not due...

Written Answers — Department of Finance: Tax Data (15 May 2014)

Michael Noonan: I propose to take Questions Nos. 72, 73 and 77 together. I am informed by the Revenue Commissioners that in respect of the year 2013 it is estimated approximately 26,700 maternity benefit claimants paid tax on this benefit, yielding an estimated €14 million in the year. I am further advised by the Revenue Commissioners that the cost of top slicing relief, in each year from 2008...

Written Answers — Department of Finance: Tax Reliefs Cost (15 May 2014)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 (TCA) provides for a scheme of tax relief on donations to approved bodies. The list of approved bodies, which includes eligible charities, bodies approved for education in the arts and eligible primary, secondary and third level institutions, is available on the Revenue website (). For donations made pre-2013, the precise arrangements for...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (15 May 2014)

Michael Noonan: I have been advised by the Special Liquidators that the sale of a residential mortgage does not change the terms and conditions of the loan agreement in any way. Irrespective of who acquires the loan(s) they will be required to honour the legal terms and conditions of the existing loan agreement(s), including previous restructuring arrangements put in place as well as offers made to customers...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (15 May 2014)

Michael Noonan: I have been advised by the Special Liquidators that they are not aware of any cases in which the purchasers of Irish Bank Resolution Corporation mortgages have cancelled revised repayment arrangements that had been put in place with borrowers.

Written Answers — Department of Finance: Tax Yield (15 May 2014)

Michael Noonan: On the basis of statistics provided to me by the Revenue Commissioners the total net receipts from Vehicle Registration Tax for each year between 2005 and 2013 are as follows: Year Total Net Receipts 2005 €1,148,783,152 2006 €1,287,407,855 2007 €1,406,055,634 2008 €1,120,777,384 2009 €375,402,902 2010 €383,485,187 2011...

Written Answers — Department of Finance: Tax Yield (15 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the approximate annual yield from VAT on new car sales from 2005 to 2013 is as set out below.  Please note that VAT receipts are estimated, as VAT returns do not require the yield from a particular sector or sub-sector to be identified. Year Estimated VAT Yield €m 2013 269 2012 260 2011 284 2010 250 2009 211 2008 520 2007...

Written Answers — Department of Finance: Departmental Staff Recruitment (15 May 2014)

Michael Noonan: Mr John Moran will remain in the post of Secretary General until his successor is appointed which we expect to take place in the next couple of months. Consideration is being given to the process of filling this post.

Written Answers — Department of Finance: Medical Aids and Appliances Provision (15 May 2014)

Michael Noonan: In response to the Deputy's question there are currently nine defibrillators throughout the shared buildings occupied by staff of the Department of Finance and the Department of Public Expenditure and Reform, including our offices in Tullamore.  The cost including VAT to install the defibrillators in 2011 came to €21,780.  Currently there is no access to these defibrillators...

Written Answers — Department of Finance: Property Taxation Yield (14 May 2014)

Michael Noonan: Section 157 of the Finance (Local Property Tax) Act 2012, as amended, provides that, in each financial year commencing with 2014, the Minister shall pay from the Central Fund or the growing produce thereof into the Local Government Fund an amount equivalent to the Local Property Tax, including any interest paid thereon, paid into the Central Fund during that year. Accordingly, receipts from...

Written Answers — Department of Finance: Tax Yield (14 May 2014)

Michael Noonan: As revenue arising from water charges will go to Irish Water, a State owned commercial company, it will not benefit the Exchequer or count as general government revenue.  Accordingly, it is not relevant to the calculation of the general government deficit for 2015. The establishment of Irish Water is a long-term investment project to deliver the necessary water services infrastructure...

Written Answers — Department of Finance: Tax Yield (14 May 2014)

Michael Noonan: I am advised by Revenue that it administers mortgage interest relief (MIR) in respect of qualifying loans through the tax relief at source (TRS) system. I am further advised that the amounts due are paid via the relevant lending institutions. With regard to the case to which the Deputy refers, I am informed that in 2010 Revenue received notification from the persons' lender that all...

Written Answers — Department of Finance: Tax Credits (14 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that in accordance with the Finance Act 2013, with effect from 1 July 2013 maternity benefit became taxable in full. Tax is not deducted 'at source' by the Department of Social Protection (DSP) on these payments. Instead, the Revenue Commissioners receive the payment details from the DSP to enable the taxpayer's annual tax credits to be reduced to...

Written Answers — Department of Finance: IBRC Liquidation (14 May 2014)

Michael Noonan: I have been advised by the Special Liquidators that 64% of the residential mortgage portfolio was sold to two purchasers, Shoreline Residential Limited, an indirect affiliate of Lone Star Fund VIII, and Mars Capital Ireland Limited which is funded through funds managed by Oaktree Capital Management LP. The Special Liquidators confirm that they have received confirmation from each of the...

Written Answers — Department of Finance: Construction Sector Strategy (14 May 2014)

Michael Noonan: The Government's Construction Strategy, published today, 14 May, aims to support a return to a sustainable and properly functioning property and construction sector as an essential part of our national economic recovery. The Strategy includes measures to ensure that financing is available to support necessary and viable development. In particular, a High Level Working Group, led by my...

Written Answers — Department of Finance: Budget 2015 (14 May 2014)

Michael Noonan: At this early stage of the year, I will not be drawn into speculation on the composition of the next Budget.  However, I would stress that when focusing on reducing the deficit and returning sustainability to the public finances, it has been of vital importance to the Government to spread the burden of the adjustments in as fair and equitable a manner as possible, while also seeking to...

Written Answers — Department of Finance: IBRC Liquidation (14 May 2014)

Michael Noonan: The Government is keenly aware of the concerns raised by the Central Bank and others regarding the potential loss of protection under the Code of Conduct on Mortgage Arrears (CCMA).  The Government is committed to bringing forward legislation that will protect mortgage holders and believes the sale of loan books to unregulated third parties Bill is the most effective way to address...